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germany which have some of the best standard of living anywhere in the world you have northeastern italy for instance which has a tradition of small and two premierships you go to a small. construction area. making clothes in gucci style in florence or making food in bali and export all over the world but it is they've been doing that for a thousand years or so and then you compare it to rome maples in southern italy it's a total disgrace day themselves and say that they live in africa and in fact so this is the problem is the inequality inside the western capitalist system and this inequality is being reproduced by the chinese most of the time i am between those americas north and south europe and china whenever i travel inside china i see the same mistakes they are committing that the west has been committing for the past twenty years and it's basically to apply new liberalism to china alexander you clarkie disagree go ahead yeah of course i disagree the problem is not inequality in and of itself the problem is the degree of inequality and i have driven around the southwestern united s
germany which have some of the best standard of living anywhere in the world you have northeastern italy for instance which has a tradition of small and two premierships you go to a small. construction area. making clothes in gucci style in florence or making food in bali and export all over the world but it is they've been doing that for a thousand years or so and then you compare it to rome maples in southern italy it's a total disgrace day themselves and say that they live in africa and in...
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especially in the case of italy. the country is fulfilling conditions of the ecb if it ever got into needed. it made the fiscal adjustment that was needed. if the country exits recession which we expect to happen next year and the growth at a potential growth rate of say 1 mers, 1.5%, with inflation under control, with interest rates back to levels which were normal for italy before the financial crisis, then all these adjustments altogether show that italy can go back on to a sustainable growth path and -- >> is that with or without berlusconi involved? because end of february are these elections. >> yes. the elections are, of course, more the campaign heading into the elections with all these noises, especially the end ecb noises that we hear from italy. that's going to cause concern that if italy does need help, how likely are they going to be to get it? in the years from 1993 to 2007 italy brought down its debt to gdp ratio to almost 100% and half of that time berlusconi is prime minister. it's not like berluscon
especially in the case of italy. the country is fulfilling conditions of the ecb if it ever got into needed. it made the fiscal adjustment that was needed. if the country exits recession which we expect to happen next year and the growth at a potential growth rate of say 1 mers, 1.5%, with inflation under control, with interest rates back to levels which were normal for italy before the financial crisis, then all these adjustments altogether show that italy can go back on to a sustainable...
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unprecedented levels of about twenty five percent in spain and greece and with upcoming elections in italy and then germany the european union is facing plenty of political as well as economic uncertainties like they say you're never a loser until you quit trying. to clear business r.t. . all right now it's time to take a look at what's happening in the markets we start of course with the united states which are still trading president obama on friday is expected to make a new scaled back offer in a bid to avoid the looming fiscal cliff meanwhile the market is dropping for the fifth consecutive session as you can see there within one percent but europe was also dropping on the same fears on friday but there's still one more day before the end of the year the forty first of the somebody to turn that trend around russia's ruble ended the final session on a down note as you can see but over the year the ruble strengthen the around five percent against the dollar as that's pretty impressive and russia's markets saw final bit of a selloff but that's because nobody wants to assume the risk of mi
unprecedented levels of about twenty five percent in spain and greece and with upcoming elections in italy and then germany the european union is facing plenty of political as well as economic uncertainties like they say you're never a loser until you quit trying. to clear business r.t. . all right now it's time to take a look at what's happening in the markets we start of course with the united states which are still trading president obama on friday is expected to make a new scaled back offer...
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unprecedented levels of about twenty five percent in spain and greece and with upcoming elections in italy and germany the european union is facing plenty of political as well as economic uncertainties like they say you're never a loser until you quit trying gnashing it's clear business are. going to what's happening in the markets we start of course with the united states the only markets which is trading president barack obama on friday will be making a new scaled back offer in a bid to avoid the looming fiscal cliff the clock is ticking away meanwhile the market is dropping for the fifth consecutive session europe is also dropping on pretty much the same fears but there's still one more day this year to turn that trend around us of thirty first of december as you can see the market is also down russia's ruble ended the final session of the year on a down note but over the year ruble strengthened five percent against the dollar so it's been quite a good year for the ruble russia's markets also saw a final bit of a sell off but that's because nobody wants to assume the risks of missing ou
unprecedented levels of about twenty five percent in spain and greece and with upcoming elections in italy and germany the european union is facing plenty of political as well as economic uncertainties like they say you're never a loser until you quit trying gnashing it's clear business are. going to what's happening in the markets we start of course with the united states the only markets which is trading president barack obama on friday will be making a new scaled back offer in a bid to avoid...
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Dec 28, 2012
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it was at the beginning of the year, but the eu faces problems in 2013 as well -- a new election in italy could put silvio berlusconi back in power, and france's francois hollande has to tackle urgent issues at home, so there is plenty of work for europ's firefighters next year. >> the past year, we have often brought you images of very angry protests in greece that were mostly against the harsh austerity measures imposed by the government in return for a bailout funds from lenders. >> without this, greece would certainly have gone bankrupt, but it still a long way from clear that the bailout and the reforms they are tied to will get the economy back on the road to recovery. >> meanwhile, the suffering continues for the greek people. the situation is especially dire in rural villages. >> we are on our way to a village on the border with bulgaria. most of the village's 500 inhabitants are muslim -- a minority in the orthodox christian country. the village also claims the dubious distinction of being the poorest village in greece, with an average income of roughly 6000 euros a year. >> ever
it was at the beginning of the year, but the eu faces problems in 2013 as well -- a new election in italy could put silvio berlusconi back in power, and france's francois hollande has to tackle urgent issues at home, so there is plenty of work for europ's firefighters next year. >> the past year, we have often brought you images of very angry protests in greece that were mostly against the harsh austerity measures imposed by the government in return for a bailout funds from lenders....